$50,000 of Cyber Security Coverage now included with all ISBA Mutual Policies!
ISBA Mutual has partnered with Tokio Marine HCC – Cyber & Professional Lines Group to provide our members with a comprehensive cyber risk insurance policy that is custom-built for legal professionals and designed to work with your ISBA Mutual lawyers’ professional liability policy.
Now included with your ISBA Mutual policy (at no extra charge to you) is $50,000 per claim in cyber security protection. The coverage is being provided to you as an ISBA Mutual insured under a master policy with Tokio Marine HCC, a leader in cyber risk management.
This first and third-party coverage includes:
- Coverage for expenses as a result of a security breach and/or an adverse media report.
- Repair and replacement of compromised electronic data or equipment that may be lost or corrupted. Also, coverage is included for any loss of income due to any business interruption.
- Cyber extortion is covered (Ransomware).
- Coverage for any regulatory fines or penalties as a result of a governmental investigation.
- Coverage for any fine imposed by your bank or credit card company due to non-compliance with the Payment Card Industry Data Security Standard.
Higher limits of cyber coverage are also available under a separate policy from Tokio Marine HCC for an additional charge. Please call Tokio Marine HCC at (818) 382-2030, if you would like a quote for additional cyber coverage or if you have questions or comments.
Additional information is available in our Frequently Asked Questions, which includes a link to our website which will provide you with some consultative tools about the “dos and don’ts” of practicing law in the world of technology.
Frequently Asked Questions
1. What is covered?
ISBA Mutual has purchased an insurance product to protect ISBA Mutual Insured Law Firms from first and third-party perils associated with data privacy and security breaches. The policy limit for this product is $50,000 per policy period.
2. What is the cost to me?
ISBA Mutual purchased this coverage for you and has paid the premium on your behalf. No additional payment is required, unless you decide to increase your limit (details below).
3. Is there a risk management website that I can visit to learn more about what I can do to protect my firm?
Yes, please see the information below for information on cyber training, sample policies, incident report plans and best practices.
Contact (312) 379-2000 for User ID and Password information.
4. How do I report a claim or find out more about my coverage?
Claim reporting or coverage questions can be reported to:
For a Tokio Marine HCC Policyholder:
Phone: (818) 382-2030
5. Can I increase my limit?
Absolutely! Policy limits may be increased by up to $1M with additional details required. For more information, call Tokio Marine HCC at (818) 382-2030. Higher limits are subject to individual underwriting.